Acadian Asset Management LLC Sells 229,460 Shares of StealthGas, Inc. $GASS

Acadian Asset Management LLC cut its holdings in StealthGas, Inc. (NASDAQ:GASS) by 17.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,073,748 shares of the shipping company’s stock after selling 229,460 shares during the quarter. Acadian Asset Management LLC owned about 2.90% of StealthGas worth $6,044,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE boosted its stake in StealthGas by 701.2% in the fourth quarter. Bank of America Corp DE now owns 10,263 shares of the shipping company’s stock valued at $58,000 after acquiring an additional 8,982 shares during the last quarter. Lazard Asset Management LLC bought a new position in StealthGas in the fourth quarter valued at approximately $61,000. Jump Financial LLC bought a new position in StealthGas in the first quarter valued at approximately $63,000. Sowell Financial Services LLC bought a new position in StealthGas in the first quarter valued at approximately $98,000. Finally, Mraz Amerine & Associates Inc. bought a new position in StealthGas in the first quarter valued at approximately $102,000. 66.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of StealthGas from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th.

StealthGas Stock Performance

GASS opened at $7.30 on Friday. The stock has a market capitalization of $271.27 million, a P/E ratio of 4.42 and a beta of 0.32. StealthGas, Inc. has a 12 month low of $4.82 and a 12 month high of $8.18. The firm’s fifty day simple moving average is $6.98 and its 200 day simple moving average is $6.17. The company has a current ratio of 3.87, a quick ratio of 3.73 and a debt-to-equity ratio of 0.04.

StealthGas Profile

StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer, as well as ammonia; refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel; and edible oils and chemicals.